Travel Industry News at TravelNewsAsia.com since 1997
Fri, 17 June 2022

Cathay Pacific Reports May 2022 Cargo and Passenger Traffic

(17 June 2022, 11:24 +07)  Cathay Pacific carried a total of 57,982 passengers in May 2022, an increase of 141.5% compared to May 2021, though a 98% decrease on the pre-pandemic level in May 2019.

Revenue passenger kilometres (RPKs) for the month increased 164.4% year-on-year, down 97.1% on May 2019.

Passenger load factor increased by 33.7 percentage points to 60.5%, while capacity, measured in available seat kilometres (ASKs), increased by 16.8% year-on-year, a decrease of 96% compared with May 2019 levels.

In the first five months of 2022, the number of passengers carried increased by 59.1% against a 48.5% decrease in capacity and a 49.3% increase in RPKs, as compared to the same period for 2021.

Cathay Pacific A330. Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.
Cathay Pacific A330. Picture by Steven Howard of TravelNewsAsia.com

“The introduction of further adjustments to travel restrictions and quarantine requirements in Hong Kong from 1 May was a welcome development, although our business during the month remained constrained. We increased our passenger flight capacity by 78% compared with April, but we still only operated about 4% of our pre-pandemic levels. Traffic volume in terms of RPK increased 94% month on month, and this was driven primarily by long-haul flights. As a result, overall load factor reached 60.5%,” said Ronald Lam, Chief Customer and Commercial Officer. “The additional passenger flight capacity we mounted in May provided better connectivity for our transit passengers, particularly those travelling from the Chinese Mainland to long-haul destinations such as the US, Europe and Australia. Demand for inbound flights to Hong Kong saw substantial growth, driven by pent-up demand out of North America, the UK and Europe. We also resumed flights to India last month with services to Delhi and Mumbai. On the other hand, we continued to operate limited frequencies into the Chinese Mainland to comply with ongoing capacity restrictions.”

The airline carried 92,426 tonnes of cargo in May 2022, a similar level as May 2021, but a 45.1% decrease compared with the same period in 2019.

The month’s cargo revenue tonne kilometres (RFTKs) decreased 32.5% year-on-year, down 59.9% compared to May 2019.

The cargo load factor decreased by 5.3 percentage points to 75.7%, while capacity, measured in available cargo tonne kilometres (AFTKs), was down by 27.7% year-on-year, a decrease of 66.1% versus May 2019.

In the first five months of 2022, the tonnage decreased by 4.3% against a 38.9% decrease in capacity and a 41% decrease in RFTKs, as compared to the same period for 2021.

“Regarding cargo, the situation in Shanghai continued to affect demand, although tonnage gradually picked up as COVID-19 restrictions started to ease towards the end of May. As for Hong Kong, volumes improved as cross-border feeder services between Shenzhen and Hong Kong allowed for a more stable flow of cargo, although it remains below the capacity available prior to the fifth wave of COVID-19 in Hong Kong. Demand from other parts of our network remained relatively strong throughout the month. Overall in May, we operated about 34% of our pre-pandemic cargo flight capacity, while load factor was 75.7%,” said Mr Lam. “Last month also saw the expansion of our joint business agreement with Lufthansa Cargo to include Swiss WorldCargo. Cathay Pacific Cargo will expand its collaboration on trade lanes between Hong Kong and Europe to provide even greater choice and value for our cargo customers. Additionally, our cargo and lifestyle businesses have jointly developed a door-to-door solution that enables customers in Hong Kong to enjoy fresh fruit and vegetables sourced from premium producers in Northeast Asia and delivered directly to their homes. This fresh produce is available through the Cathay shop.”

Looking Ahead

“The first quarter of 2022 saw a tightening of travel restrictions and quarantine requirements as Hong Kong continued to fight against COVID19. Such measures have restricted our ability to operate beyond only a fraction of our passenger services and have significantly reduced our cargo capacity. However, with the recent adjustments to travel restrictions and quarantine requirements, we have been able to resume more flight capacity in the second quarter. Given a strong underlying cargo performance coupled with our cost-management measures implemented over the past two years, our consolidated losses in the first half of 2022, while substantial, are expected to be lower than the consolidated losses reported in the first half of 2021,” Mr Lam said. “Earlier this month, the Hong Kong SAR Government agreed to extend the drawdown period of the HK$7.8 billion loan facility for 12 months to 8 June 2023. The further extension of the drawdown period is greatly appreciated and will provide us with flexibility to manage our liquidity position.

“Looking ahead to June and beyond, as travel demand continues to improve over the coming months, we will increase passenger flight capacity as much as is practicable under the confines of ongoing restrictions. Cathay Pacific started the year operating flights to 29 destinations and we target to double that by the end of the year. As of June, we are already halfway towards reaching this target with 45 destinations resumed. We will be keeping a close eye on the opening up of travel activities in nearby countries, such as Japan and South Korea, and will look to operate flights to capture potential demand wherever possible. We also expect transit traffic to improve and become more diversified, in particular between the UK, Australia and New Zealand, as well as North America and Southeast Asia.

“On the cargo side, we have been able to progressively add long-haul freighter services on both Transpacific and European routes with a full freighter schedule operating from June onwards. This will be further supplemented by increased passenger flight frequencies and cargo-only passenger services to provide additional lift. With disrupted supply chains in Shanghai and elsewhere in the world, the short-term outlook for our air cargo business remains positive, whilst we currently remain confident for a solid traditional peak season later this year.”

Recent interviews HD Video Interviews from Miss International Queen 2022 in Pattaya, Thailand, Miss International Queen 2022 - Interview with Alisa Phanthusak, MD of Tiffany's Show Pattaya, Mövenpick Siam Hotel Na Jomtien Pattaya - Interview with Dmitry Chernyshev, GM, Is Siam Seaplane Ready for Take Off? Interview with Dennis Keller, Chief Business Officer, New CEO at Pattana Sports Resort in Chonburi, Thailand - Interview with Bodintorn JuangroongruangkitSport and Fitness Training at Pattana Sports Resort in Chonburi, Thailand - Interview with Craig Wood, Thailand Yacht Show Pattaya 2022 - Interview with Andy Treadwell, CEO of Verventia, iAqua Adventures Interview with Nick Murphy at Thailand Yacht Show 2022 in Pattaya, Jetboard Thailand Interview with Marilin Poonsiri at Thailand Yacht Show 2022 in Pattaya and TYS Pattaya 2022 Interview with Khun Sutiwas Chaisrivichiean, MD of MF Group (Thailand).

Headlines: Rosewood to Rebrand Three Lodges in New Zealand  New Dual-Branded Hotel in Kuala Lumpur Appoints Senior Management Team  Bonza to Launch Sunshine Coast - Darwin, Gold Coast - Darwin and Melbourne - Alice Springs  IHG Opens First avid Hotel in New York, USA  Austria to Order Embraer C-390 Millennium Multi-Mission Aircraft  Maldivian Orders Two ATR 42-600 Turboprop Aircraft  IndiGo Adds San Francisco to Codeshare Partnership with Turkish Airlines  Virgin Australia Upgrades Retailing Strategy with Sabre Air Price and Ancillary Solutions  TUI Expands Use of SITA OptiClimb to All Five Airlines in Group  Marshall J Orton Joins Fairmont Singapore and Swissôtel The Stamford as GM of F&B  China Airlines Launches Flights Between Taipei and Kumamoto, Japan  IATA FEGA Identifies Potential for LOT Polish Airlines to Reduce Fuel Consumption  British Airways Joins Fight Against Dementia by Partnering Alzheimer's Society  Hong Kong Int. Aviation Academy Launches First Cadet Pilot Programme  IndiGo Becomes Official Airline of Blue Tigers Indian Football Team  Marriott Opens World's Largest Aloft Hotel  Resort in Maldives Partners Karis Scarlette for Baa Atoll Ballet Retreat  Shady Abdelaziz Joins Four Seasons Hotel Tunis as DOSM  Intra-African Passenger Traffic to More Than Quadruple in Next 20 Years  Indian Air Force Takes Delivery of First C295 Aircraft from Airbus  Tailwind Air Appoints APG as Online GSA in USA  S Hotels Renovates and Upgrades IT Infrastructure at Key Properties in UK  AirAsia to Move Flights to New Airport in Siem Reap, Cambodia  Air Peace Orders Five Embraer E175 Aircraft  China Airlines Rewards FFP Members with Monthly Promotions  IHG Opens New-Build Holiday Inn & Suites in Geelong, Australia  Aruba Working with SITA to Upgrade Immigration Experience at AUA  Langham Opens Cordis Hotel in Xuzhou, China  SMBC Aviation Capital Expands 737 MAX Order Pipeline with Deal for 25 Boeing 737-8s  PHI Signs Agreement for 28 Airbus Helicopters  Anantara Chiang Mai Launches Ping River Cruises on Restored Rice Barge  Thaicom Orders a Flexible Telecommunications Satellite from Airbus  Korean Air Begins Transition to Electronic Air Waybills for Cargo  Tim Toerber Joins Assaia as Vice President of Business Development for the Americas  Elbit Systems Launches Capsule that Combines Skylark III with SkyStriker  Singapore Airlines to Resume Flights to Brussels in 2024  Vietnam Airlines Signs MOU for 50 Boeing 737 MAX 8s  Thai Airways Adjusts BKK-HKT Schedule; Increases Flights to China  Elbit Systems to Upgrade IDF's Mini Skylarks  DidaTravel Appoints Ala Andriuta as Head of Destination Marketing  Cathay Pacific to Resume Flights to Chennai, India in 2024  Qatar Airways Partners Chef Ton for Delicious Thai Flavours in Business Class  Air Astana Opens Flight Training Centre at NQZ, Kazakhstan  Vietnam Airlines to Launch Flights Between Saigon and Perth, Australia  SalamAir to Launch Year-Round Flights Between Muscat and Beirut, Lebanon  Air Astana Launches Flights Between Almaty and Tel Aviv, Israel  Hawaiian Airlines Opens Ticket Sales on First Boeing 787-9 Dreamliner Flights  Airlines Report Highest RPK and PLF on Record  IHG Signs Six Hotel Indigo Properties in Europe  Turkish Airlines Increases A350 Order Book with Deal for Ten -900s  IATA Reports Global Air Cargo Data for July 2023  Norse Opens Ticket Sales on Paris - Los Angeles Flights  Cartier Opens Boutique at Sydney Airport in Australia  Mazen Abilmona Appointed GM of Pullman Singapore Hill Street Hotel  Air France-KLM to Establish A350 Component Maintenance Services JV with Airbus  Alan Joyce Brings Forward Retirement; Vanessa Hudson Appointed Qantas Group CEO and MD  SAS Appoints Ginger Hughes as CTO; Paul Verhagen as CCO  Eric Pellen Joins Fairmont Amman as Executive Chef  Bombardier Partners Collins Aerospace for Avionics Upgrade on In-Service Global Jets  IndiGo Revamps Inflight Catering Service  FlyArystan to Launch Almaty - Delhi and Astana - Dushanbe Flights  Marriott Opens First Autograph Collection Hotel in Thailand  Construction Begins on Peppers Gladstone Hotel in Central Queensland, Australia  Natalie Dau to Conduct 4-Day Next-Level Performance Retreat at Chiva-Som, Hua Hin  KAI to Begin Serial Production of Light Armed Helicopters from Airbus  AirAsia Thailand Launches CNX - Lampang and NAN - Phrae Transfer Services  Mantra Melbourne Airport Hotel to Undergo Multi-Million Dollar Refurbishment  Qantas Removes Expiry Date on COVID Credits  Indonesia Signs MOU with Boeing for 24 F-15EX Fighter Jets  Airbus Opens Automated A321XLR Equipping Hangar in Hamburg, Germany  Novotel Living and Ibis Almaty Jetisu Hotels in Kazakhstan - Interview with GM, Arseniy Tagaev  Aeroflot to Increase Flights from Russia to Bangkok and Phuket in Thailand  Matthew Senyard Appointed Lodge Manager of Four Seasons Safari Lodge Serengeti in Tanzania  Marriott Expands Luxury Collection to Japanese City of Nara  Embraer and CAE to Expand Pilot Training Program in Singapore  Marriott Opens First Moxy Hotel in Australia  Hong Kong Airport Reports July Passenger and Cargo Traffic  Few Tickets Still Available for Singapore F1 Grand Prix 2023  Qantas Orders 12 Airbus and 12 Boeing Aircraft  Finnair to Launch Flights Between Rovaniemi and Tromsø  Association of Asia Pacific Airlines Reports July's Passenger and Cargo Traffic  Bonza to Launch Flights Between Gold Coast and Launceston, Tasmania  Ramsey Saarany Appointed GM of Anantara Mina al Arab Ras Al Khaimah Resort  Emirates Reports One of its Busiest Summers Ever  EVA Air Extends Distribution Agreement with Amadeus  Almaty Marathon 2023 - 4K Video Interview with CEO, Saltanat Kazybayeva  Accor Hotels in Australia to Feature Peloton Bikes  Sabre Expands Presence in Fiji and South Pacific Islands with Airline Rep Services  Air New Zealand Orders Two ATR 72-600 Turboprop Aircraft  IndiGo to Operate All International Flights from BLR's Terminal 2  Electric Airport Taxis at Almaty Airport in Kazakhstan - Video Interview with Co-Founder  Elias Pertoft Appointed Pre-Opening GM of Waldorf Astoria Seychelles Platte Island  IHG Opens Third Hotel Indigo in Australia  Embraer E195-E2 Receives Type Certification from CAAC  Jörg Arnold Appointed Cluster Director of Andermatt Hotels and GM of The Chedi Andermatt  Marriott Signs Edition Hotel in Dali, China  Ethiopian Airlines to Launch Thrice Weekly Flights to London Gatwick, England  Boeing Appoints Alvin Liu as President - China  Charles Fisher Moves to Cairo as GM of Four Seasons Hotel  Jirarat Ninpadub Appointed GM of Le Meridien Phuket Mai Khao Beach Resort  IndiGo to Launch Flights Between Delhi and Almaty, Kazakhstan  Accor Signs Second Sebel Hotel in Wellington, New Zealand  IHG Launches Garner a New Midscale Conversion Brand  Finnair Plus to Adopt Avios as Currency and Become a Spend-Based Platform  Two Luxurious Manor Homes Open at Fairmont St Andrews in Scotland  Thai AirAsia Reports Q2 and H1 2023 Results  Klook Survey Highlights Latest Travel Trends of Millennials and Gen Zs in Asia Pacific  Vietnam Airlines Signs MOC with Singapore Tourism Board  Aviation Safety and Training Singapore to Upgrade Flight Simulators with Lido FMS  Pictures from Miss International Queen 2023 Transgender Beauty Pageant in Pattaya, Thailand  Exclusive Video Interviews with 17 Miss International Queen 2023 Contestants  Living With One Eye - Six Years On by Steven Howard  HD Videos and Interviews  Podcasts from HD Video Interviews  RSS Feed - Travel Industry News  Ticker - Travel Industry News  Travel Industry News Archives  Travel Trade Shows  High-Res Picture Galleries  Travel News Asia - Latest Travel Industry News 

Subscribe to our Travel Industry News RSS Feed Travel Industry News RSS Feed from TravelNewsAsia.com. To do that in Outlook, right-click the RSS Feeds folder, select Add a New RSS Feed, enter the URL of our RSS Feed which is: https://www.travelnewsasia.com/travelnews.xml and click Add. The feed can also be used to add the headlines to your website or channel via a customisable applet. Have questions? Please read our Travel News FAQ. Thank you.

     
Advertising
Advertising
Copyright © 1997-2023 TravelNewsAsia.com